Recently, "Sitimation" made a significant announcement, revealing that it has successfully wrapped up its Series C funding round, amassing over RMB 400 million. The roster of investors participating in this round is impressive, featuring CICC Capital, Hongtai Fund, Joy Capital, Wuxi Innovation Investment, and Nanshan Venture Capital.

The freshly acquired funds are earmarked for several crucial purposes. Firstly, they will be instrumental in expediting the research and development cycle of satellite internet payload products. This encompasses a wide array of technologies, such as TT&C (Telemetry, Tracking, and Command), high-speed data transmission, QV feed, phased array, NTN baseband, as well as inter-satellite and satellite-ground communication terminals, and routing systems. Additionally, the investment will play a pivotal role in advancing the strategic layout of core chips.

Moreover, the financial boost will facilitate the upgrade and expansion of the industrial aerospace intelligent manufacturing line. This move is expected to pave the way for the swift construction of networking for mega-constellations, marking a significant stride in the company's growth trajectory.